Indonesia Consumer Confidence Continues to Grow
On Ipsos Global Consumer Confidence Index revealed that consumer confidence up in 8th month in a row across 24 countries surveyed. The expectation index showed that consumer’s outlook on their local economy, financial situation, is back to its pre-pandemic level.
How about Indonesia’s consumer?
On Ipsos SEA latest study, Living in Crisis Wave 3 that released in last March, showed that consumer confidence continues grow along increasing of purchase power. It’s indicated by the optimism of national economy recovery & positive sentiment in consumer trends for some product categories.
National Economy Recovery
The study found that a year of living with Covid-19, citizens in SEA continue to battle the concern of country economy. Indonesia was showing stability and resilience through this period (75% optimistic in Sep’20) and continue become the most optimistic among SEA countries 76% optimistic in Feb 2021.
Consumer confidence was buoyed by the expeditious and orderly national vaccination program rollout, which stoked confidence in current economic conditions and future expectations. By the vaccination, citizens are more confidence to do their activities, that effect to drive business and economy dynamic. Moreover, the optimism also is constructed by some factors, such as Government stimulate programs, removing or loosening the restrictions, and household income & saving.
Retails: Purchase Intention & Purchase Power
According to Ipsos SEA study findings that track consumer behavior and opinion evolving (wave to wave), revealed that average categories in retail industry is getting better slightly. The most significant increase is in restaurant & café and travel categories. The survey read there are positive trend compared to Wave 2 (September’20) and Wave 1 (May’20), even though still decrease than pre-pandemic.
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